Americans don’t want to go out on a school night anymore. As pandemic-era lockdown mandates lifted, weeknights became as popular as weekends for people to go out for dinners, drinks and entertainment. But the trend seems to have run its course.
Despite persistently high inflation weighing on household budgets, Americans have by and large kept spending, helping the economy to chug along and then some. The reversal of the weeknight outings trend could be a warning sign of more budget cuts on the horizon.
Getting Customers Back
For companies that profited from consumers keen to enjoy entertainment outside their homes this is a challenge.
The so-called “eatertainment” industry, for example, is responding by bringing back popular discounts and piloting new promotions in an attempt to get weeknight customers back.
• Dave & Buster’s (PLAY) once again offers all-you-can-eat wings on Mondays and Thursdays.
• Topgolf (MODG) is trying out a host of midweek discounts following the sustained success of its half-off Tuesdays.
• Bowlero (BOWL), owner of Lucky Strike Lanes, is tempting customers with half-off arcade games on Wednesdays and unlimited midweek late-night bowling.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.